Leading Italian luxury linen brand Frette has entered into the Indian market with the opening of its first store in Mumbai and is eyeing a revenue of $20 million from here in three years. The Milan-based company has entered through a franchise route.
"Our expectation from here is huge. A revenue of $20 million in three years is a good number," said Frette Worldwide sales director, home division, Riccardo Ronconi.
The company has signed the licensing agreement with global company Elite Lifestyle for the franchise here.
"At the moment it is only franchisee that is investing here, but in future we are open to investments as well," Ronconi said.
The firm has launched bed linens, baby wear, bags and perfumes.